size also in our show, india expands its pilot project for a new digital repeat. we'll hear from our correspondent in delhi. and russians who have fled to turkey might be wearing out their welcome in an economy where many are struggling with walking to show, i'm seen beardsley in br, lead super aggressive. the words reportedly chosen by french president, a man wilma cron to describe a new american law that he argues will distort transatlantic trait. mccomb speaking during a closed door meeting with us lawmakers on wednesday. today. he'll have the ear of us president joe by as part of the state visit to washington. the new law, the $430000000000.00 inflation reduction act subsidizes us investment that lowers carbon emissions such as electric vehicles across as it discriminates against european firms at a critical moment for the confident. what has happened in recent months is a challenge for us because we are starting to have differences on energy issues.

and the cost of the war is not the same in europe and in the united states. but the choices that have been made for which are shared goals, in particular, the inflation reduction act, or the chips act are choices that was split the rest. because they created such differences between the us and europe. that for those who work at many companies, they will just tell themselves we're not investing on the other side of the ocean anymore. clemens cobra is director of trade policy at the association of german chambers of industry and commerce. he joins me from brussels. clemens, welcome to the show. we just heard the complaints of a man. well, the con, there are they shared by other european nations? look absolutely. the current situation just to show you the background, the energy crisis has a big impact on the competitiveness of all european countries. especially also germany and with the i r a,

there's another very challenging situation that increases that lack of competitiveness. so for german businesses, it's really important that both our government as well as the european union, tackle that issue to make sure that we can continue to have a level playing field on our commerce and business ties at the same time or their german businesses. large multi nationals that benefit from this legislation which incentivizes companies that are settled in the us. i'm thinking of volkswagen. i'm thinking of siemens is interested their benefit as well. now look for german businesses. there are certainly a number of companies that will be able to use the legislation and make, make use of it. and in general, german businesses are very happy that the united states also takes

a stronger approach towards climate mitigation measures. measures to fight climate change because so far it's been mainly that you're moving ahead and creating issues of late level playing field because other countries weren't following that much. but this is a big issue. florida for the competitiveness of germany as well as other locations within europe. there are many, many companies that will not be able to move that to fulfill these local content requirements that seem pretty much illegal according to w g o regulations. and there is a big fear that it will create a global race of subsidies which will in the end great, lose lose situation for everyone. and this is not something german companies want. i think no one wants a stronger to create conflict,

especially now in that geo political situation, the good thing would be to, to negotiate fair, equal access, and make sure that we together can fight climate change and continue to have the business relations. let's leave it there, clemens cobra with the association of german chambers of industry and commerce. thank you very much. let's take a look now. some of the other global business stories making headlines. your figures show the u. s. economy expanding more than previously thought during the 3rd quarter of the year g. d p growing by 2.9 percent. that's an upward revision from the previous estimate of 2 point. 6 percent. economists are also expecting growth for the current quarter, although the trade deficit is growing again. twitter owner, you must said that he and apple c. e o. tim cook resolved their dispute during

a meeting on wednesday. and earlier this week must had said that the tech giant had cut advertising and threatened to remove the twitter app from its app store. the former ceo of crypto change f t. x denied committing fraud and apologized for the mistakes in the collapse of the crippled currency giant and abuse even a wednesday, sam bank mon fried, said he did not deliberately mislead investors, who have been unable to withdraw their funds from a bankrupt platform. fashion retail or h m, has ended its russian operations closing at moscow flagship store. the swedish clothing company also said it would be lang off $1500.00 employees worldwide to contend with softening demand due to rise and inflation. it's the 1st big european retailer to do so or india is expanding its pilot project for its digital repeat today. rolling it out to a group of retail users, they'll be able to make payments in real time using digital wallets. india is just

the latest country to move forward with a digital version of its sovereign currency, joints, china, russia, and saudi arabia, among other nations that are already running pilot projects of u. s. dollar and euro may also have digital versions one day. and europe might get there 1st, some years in countries like spain are already planning plot pilot projects for the digital urine. the indian government argues that if digital currency will improve payments and access to money, also increasing transparency. deli also hopes that a digital currency will take even more steam out of decentralized triple currencies, which it has tried to discourage charo car to k joins me from delhi for more charo . this is the 1st retail pilot of the ruby. why now? well stephen, to be sure, the r b, i and the federal government have been working on this for a long time. in fact, we're back in 2017 was the 1st time when the federal government, us the r b i to study group to currencies and is to currencies. and that was the

1st time when the r b. i should a warning against crypto currencies and started working towards this digital currency thing. now the eye is believed to be a part of at least $26.00, the central banks that are, that are studying the cars that have been studying the concept of a digital to be, have been and resulting launching one. and it has been a gradual process about a month ago, the launch to digital to be for wholesale purposes, essentially for government securities. and now the sub pilot for a retail is to repeat, begins today it's a closed user group that has been treated for this purpose, are not a full fledged public rollout, but a pilot. how can we expect consumers and merchants to adopt and e repeat? what will be something that they embrace? well, it remains to be seen a stephen of 1st of all, we need to remember that what is being launched today is a pilot. so as i said, a closed user group, or will be a part of this by look, select banks have been selected for this and eventually for the public response

would be visible only after a full fledged rule out is offered to the public. now it remains to be seen when the public will accept it or not, but what we have seen is that you p i which is the 1st digital payment that in the, introduced a couple of years ago you get, has really flourished. and people use you before even the smallest of transactions in that everyday lives. so digital payments are definitely are, have become very popular in india, so would be good or digital will be could also have a bright future. but god remains to be seen as a spouse, tingle troll. you mentioned crypto currencies, india now taxing crypto transactions pretty heavily. why has the government they're taking such a hard line against crypto? well, yes, you're right. there's 2 units. it's a hard line. in fact, the taxes only so as not to be able to band to currencies because they continue to be very popular will. now of course, um, because of the slump in the crypto market,

to investors out a little bit to wary. but there has been enthusiasm in the concept of criptos for a very long time because of which the government has stayed away from a ban. but the tax is to discourage people from using criptos. now the r b, i has been saying for a long time that a crypto currencies are volatile, they are unsafe and they're not necessarily the best instrument for 4 countries like india, where even financial inclusion is, is something that is that government really needs to expand. so for several reasons, the r b a has really been against crypto currencies. it has also highlighted that digital is not a crypto currency. it's, it's, it's, it has a sovereign backing. it has been regulated by the central bank. so the ariba has really big to defer from some analysts will say that this is a, that is to be, is the governance official crypto student, or my colleague char, to k from delhi. thank you. with western sanctions taking

a bite out of their country's economy. many russians have headed abroad including to turkey, but the presence isn't seen as a positive by many turks who are facing some significant challenges of their own. it stumbled airport flights from russia land here daily. among these passengers are many young men opting out of fighting and rushes war in ukraine. r 2 r a landed on a flight last month, shortly after partial mobilization or deployment was announced. he staying with his friend myisha and settling in quite well. she was like all through people. i know here i found a russian bank and payment system that can make transference from russia to a bank here in $3.00 stuck school bar, which is what those are still 3 us coupon. but what pleases our tour here, infuriate starks while they are suffering the russian visitors are doing extremely well. and it's not just them. 2 months ago, beller russians. vladimir and olga arrived and i'm thalia and set up at tennis

academy. of course, i'm fairly is perfect. i feel like office at home because too many russians from different directions began. cancer is when you have every scene there, god in school business is going well for their apartment. the entrepreneurs can afford to pay $3500.00 euros. 7 dines the average turkish salary agency guys, they already told us that don't care citizens and i have very huge problems. they can't l. sam, so to rent fled, they come time because everyone are looking for foreigners for dirks like eunice, emory at the rents are unaffordable. the 26 year old teacher was affected from his old apartment after his property owner raised the rent 5 fold. so he moved in with a friend the homes in the machine. i used to spend about 10 percent of my

salary and rent that's over. now it's at least 50 or 60 percent if i can find anything at all and a bit of an updated. now there is anger, especially at turkish businesses and property owners. after all, they are the ones benefiting from valley rush inclines were driving up prices. that's it for me and the business team here in berlin, you can find out more about these are other stories online at d, w dot com slash business. you can also find us on youtube or the d. w. news channel . we back in a few hours more in the meantime. thanks for watching. ah! ah! with

awe in awkward reunion on the cranium more refugees come face to face with pro russian oligarchy from their home country. they all flayed here. but while most of the refugees left everything behind the oligarchy block, there's 2 cases full of money. the situation is difficult to bear. focus on europe, 90 minutes on d, w. a. we love diversity, and anything unusual. no mountain is too high,

and no road is too long. in the search of the extraordinary we are the specialists of lifestyle, europe, your ro, max. on d, w. they breeze, ah, body and soul. ah, the houses that daniel rebus can construct are more than just building his ideas, bold and passionate. you have to be radical. that's a radical mean. go back to the ruth. he is the son of jewish holocaust survivors. how lucky that i was able to build a jewish museum, berlin, because it's very closely related to me as a person. his architecture is a celebration of democracy and piece it's more buildings. the biggest thing in the

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